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Prices & Quotes - UK Markets - 888 Holdings (888)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 414.80p
Change Today:
16.80p
Market Cap:
1,543.94m
Sector:
Travel & Leisure

888 Holdings wins race for William Hill non-US business

By Frank Prenesti

Date: Thursday 09 Sep 2021

LONDON (ShareCast) - (Sharecast News) - Gambling company 888 Holdings on Thursday said it had won the race to buy the non-US international business of William Hill from Caesars Entertainment for 2.2bn.
The combination is expected to deliver "significant operating efficiencies", including pre-tax cost synergies of at least 100m a year, leading to improved profit margins, 888 said in a statement.

It won an auction process Apollo and CVC Capital Partners working with Tipico, a German betting group. Advent International recently withdrew from the race and the CVC-led bid was knocked out over the weekend.

888 also said it expected to raise approximately 500m via a capital raise " to be undertaken at an appropriate time".

William Hill, famous for its chain of 1,400 betting shops, was taken over in April by Caesars Entertainment in a 2.9bn deal, but the Las Vegas casino operator only wanted the US operations.

Caesars, which already had a US joint venture with William Hill, made clear from the start that it did not want the non-US assets and intended to find a buyer for them once it completed the acquisition.

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888 Holdings Market Data

Currency UK Pounds
Price 414.80p
Change Today 16.80p
52 Week High 478.00p
52 Week Low 251.00p
Volume 643,703
Shares Issued 372.21m
Market Cap 1,543.94m
Beta 0.01

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What The Brokers Say

Strong Buy 7
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 7
strong_buy
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888 Holdings Dividends

  Latest Previous
  Interim Final
Ex-Div 16-Sep-21 25-Mar-21
Paid 13-Oct-21 24-May-21
Amount 4.50¢ 10.40¢

Trades for 18-Oct-2021

Time Volume / Share Price
14:48 8 @ 414.80p
14:48 273 @ 414.80p
14:48 59 @ 415.00p
14:48 78 @ 415.00p
14:45 232 @ 415.00p

888 Holdings Key Personnel

CEO Itai Pazner
CFO Yariv Dafna